Medexus Pharmaceuticals (TSE:MDP) Reaches New 52-Week High on Analyst Upgrade

Medexus Pharmaceuticals Inc. (TSE:MDP)’s share price reached a new 52-week high during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from C$4.15 to C$4.50. The stock traded as high as C$4.60 and last traded at C$4.52, with a volume of 77011 shares traded. The stock had previously closed at C$4.47.

Several other equities research analysts have also issued reports on MDP. Raymond James raised shares of Medexus Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a C$4.00 price objective for the company in a research report on Wednesday, January 8th. Leede Financial set a C$8.25 price objective on shares of Medexus Pharmaceuticals and gave the stock a “speculative buy” rating in a research report on Monday, September 30th. Finally, Alliance Global Partners raised shares of Medexus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, December 23rd. Two investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average price target of C$5.58.

Medexus Pharmaceuticals Stock Performance

The stock’s fifty day moving average is C$2.92 and its two-hundred day moving average is C$2.60. The firm has a market capitalization of C$106.21 million, a price-to-earnings ratio of 86.60 and a beta of 1.96.

About Medexus Pharmaceuticals

Medexus Pharmaceuticals Inc operates as a specialty pharmaceutical company in Canada and the United States. The company focuses on the therapeutic areas comprising oncology, hematology, rheumatology, auto-immune diseases, allergy, and dermatology. Its primary products are IXINITY, an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with hemophilia B; Rasuvo and Metoject, a formulation of methotrexate designed to treat rheumatoid arthritis and other auto-immune diseases; Rupall, a prescription allergy medication; and Gleolan, an optical imaging agent indicated in patients with glioma as an adjunct for the visualization of malignant tissue during surgery.